Royal Bank of Canada Agrees
To Acquire Security First

Dow Jones Newswires

Updated March 9, 1998 2:51 p.m. ET

TORONTO -- Royal Bank of Canada said Monday it agreed to acquire Security First Network Bank of Atlanta, the first Internet bank, and interests in its affiliates in a complex transaction valued at about $20 million.

Royal Bank said it will also acquire an interest in Security First Holdings, which -- following a corporate reorganization -- will be the majority shareholder in Security First Technologies, a software-development company...